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March 9, 1993
<br />
<br />Coun~
<br />reso]
<br />proc~
<br />cons]
<br />
<br />your
<br />will
<br />Imprc
<br />
<br />J~me~
<br />refur
<br />Finar
<br />
<br />'he attached resolution has been p
<br />~! and reviewed by the City Attorn
<br />~tionf I am enclosing a tentative
<br />:s for your information. I recomm
<br />Ier the resolution.
<br />
<br />aiso~recommend your approval of
<br />!inal approval, the balance in the
<br />~e $13,423,329 and the balance in
<br />'ements Fund will be $5.~725,161."
<br />
<br />H. Ftesher, 3916 Flagship Way, sp
<br />ing bonds an~ complimented J. Pet
<br />:e, for his work with selling the
<br />
<br /> A') A resolution for the refundin
<br />Refuq~ing Bonds, Series 1987; Public Ut
<br />S~ri~ 1987; General Obligati?n Public
<br />!99t;/General Obligation Public Utility
<br />for ~e purpose of requesting the aDpre
<br />Loea~Debt to issue the refunding b~nds
<br /> ~otlon of Mr. EpDerson and seconde
<br />follOWing resolution ~as adopted and by
<br />"A- R~$OLUTION OF THE~COUNCIL OF T~E CIT
<br />APPRO~ING THE ADVANCn REFUNDING Ok A PO
<br />CITY'S $10,660,000 OUTSTANDING PRINCIPA
<br />PORTSMOUTH, VIRGINIA, PUBLIC IMPROVEMEN
<br />S~RIE$ 1987, DA~ED ~ULY 9, 1987 _~ND .~AT
<br />NOlfE~ER 1, 2003, B~TH INCLUSIVE, AND N
<br />$8,301~,000 OUTSTANDING PRINCIPAL AMOUNT
<br />ViRGInIA, PUBLIC UTILITY AND REFUNDING
<br />JULYS, 1987 AND MATURING NOVEMBER 1, 1
<br />BO~H I~NCLUSIVE, ~ND NOVEMBER 1, 2012, T
<br />O~S~.NDING PRINCIPAL AMOUNT OF CITY OF
<br />GENE~L OBLIGATION PUBLIC IMPROVEMENT B
<br />Ji%N~J~Y 1, 1991 AND MATURING AUGUST 1,
<br />BOTH ~NCLUSIVE, AND THE CITY'S $8,520,0
<br />AMO~35 OF CITY OF PORTSMOUTH, VIRGINIA,
<br />UTILI 'Y BONDS, SERIES 1991, DATED JANUA
<br />AUGUS ~ i, 2001 TO AUGUST 1,=20ti, BOTH
<br /> AUTHORIZIN= THE D~RECTOR OF F
<br />2019, AND
<br />OF~i'~ ALS TO SEEK THE APPROVAL OF THE S
<br />W~T~ ~SPECT TO THE ISSUANCE OF "REFUND
<br />OF ~£ 'ANCE REFUNDING A PORTION OF OR AL
<br />BONb~ PURSUANT TO SECTION 15.1-227.46 O
<br />1950 AND THE "GUIDELINES FOR APPROVAL
<br />ST~T COUNCII~ ON LOCAL DEBT" ADOPTED BY
<br />DEBT 'HEREUNDER.
<br />
<br /> ~EREAS, the Council o~ the City o
<br />dete~ lined that it would be desirable t
<br />of ~{atl of the City's $10,660,000 out
<br />of~ City o~ Portsmouth, Vi~ginia,~ Public.
<br />BQ~dsi Series 1987, dated ~uly ?, 1987,
<br />1998 [o November t, 2003, both lnclusiv
<br />(the ~Cattable 1987 Public Improvement
<br /> ing debt service savings; and
<br />
<br /> · the Council of the City o
<br />.ined that it would be desirable t
<br />all of the City's S8,300,000 outs
<br />f Portsmouth, Virginia, Public Ut
<br />July 9, 1987 and maturing Novembe
<br />both inclusive, and November 1, 2
<br />Publi~ Utility Bonds"), for the purpose
<br />s~u~n~s; and
<br />
<br />021
<br />
<br />repared by the City's Bond
<br />ey. In addition to the
<br />schedule for the refunding
<br />end that you favorably
<br />
<br />~hese appropriations. With
<br />Capital Improvements Fund
<br />~he Public Utility Capital
<br />
<br />~ke in favor of the
<br />~r Teig, Director
<br />~onds.
<br />
<br />I of Public Improvement and
<br />.lity and Refunding Bonds,
<br />.mprovement Bonds, Series
<br /> Bonds, Series 1991; and
<br />'al of the State Council on
<br />
<br /> by Mr. King, the
<br />the following vote:
<br />
<br />· OF PORTSMOUTH, VIRGINIA,
<br />~TION OF OR A~L~ OF THE
<br />L AMOUNT OF CITY OF
<br />~ AND REFUNDING BONDS,
<br />3RING NOVEMBER 1, 1998 TO
<br />DVEMBER t, 2012, THE CITY'S
<br /> OF CITY OF PORTSMOUTH,
<br /> ~ONDS, SERIES 1987, DATED
<br /> 98 TO NOVEMBER 1, 2003,
<br /> [E CITY'S $19,250,000
<br /> PORTSMOUTH· VIRGINIA,
<br /> ~NDS, SERIES 1991, DATED
<br /> 001 TO AUGUST 1, 2011,
<br /> 0 OUTSTANDING PRINCIPAL
<br /> GENERAL OBLIGATION PUBLIC
<br /> ~Y 1, 1991 ~ND MATURING
<br /> NCLUSIVE, AND AUGUST 1,
<br /> [NANCE AND OTHER CITY
<br /> 'ATE COUNCIL ON LOCAL DEBT
<br /> NG BONDS" FOR THE PURPOSE
<br /> OF THE AFOREMENTIONED
<br /> 'THE CODE OF VIRGINIA
<br /> ~F REFUNDING BoNDs BY THE
<br /> THE STATE COUNCIL ON
<br />
<br /> Portsmouth, Virginia, has
<br /> advance refund a portion
<br /> tanding principal amoun~
<br /> Improvement and Refunding
<br /> and maturing November i,
<br />~, and No~ember 1, 2012
<br />.ends"), ~or the purpose o~
<br />
<br />Portsmouth, Virginia, has
<br />advance refund a portion
<br />anding principal amount of
<br />lity and Refunding Bonds,
<br />' 1, 1998 to November i,
<br />12 (the "Callable 1987
<br />of effecting debt service
<br />
<br />
<br />
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